Volution Group PLC (LSE:FAN) reported a slight slowing of organic growth in the first four months of its new financial year, while also announcing the acquisition of an Australian underground mining ventilation specialist in a deal worth up to A$178.9 million (£89.5 million).
The FTSE 250-listed ventilation products supplier reported over 30% total revenue growth for the four months ended 30 November 2025 and organic revenue growth at constant currency of around 5%, down from 5.7% in the year to July.
All three of its operating regions delivered growth, with total revenue supported by 25% growth from the acquisition of Fantech, which was completed in the prior year, a small benefit from currency movements and operating margins that remained consistent with the prior year.
“We expect to deliver another year of good growth in revenue, operating profit and cash generation,” said group chief executive Ronnie George.
In a separate statement, the group said it had signed an agreement to acquire AC Industries, a Sydney-based manufacturer of energy-efficient ventilation ducting systems for underground mines.
The business will join Volution’s Australasian operations and is expected to complete in February 2026, funded through existing debt facilities, with leverage at completion expected to be around 1.8x.
ACI serves over 150 mine sites in 15 countries, primarily gold and copper mines.
George said: “It was clear to us that ACI’s business model and solutions were perfectly aligned with Volution’s approach to providing healthy air, and would be an excellent fit with our model and strategy.”